Paloma Partners Management Co Takes Position in PG&E Co. (NYSE:PCG)

Paloma Partners Management Co purchased a new position in PG&E Co. (NYSE:PCG) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 75,529 shares of the utilities provider’s stock, valued at approximately $1,493,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rothschild Investment LLC bought a new stake in shares of PG&E during the 2nd quarter valued at $30,000. UMB Bank n.a. boosted its stake in PG&E by 84.7% during the second quarter. UMB Bank n.a. now owns 2,204 shares of the utilities provider’s stock worth $38,000 after acquiring an additional 1,011 shares in the last quarter. Blue Trust Inc. grew its holdings in PG&E by 77.0% in the second quarter. Blue Trust Inc. now owns 2,361 shares of the utilities provider’s stock worth $40,000 after purchasing an additional 1,027 shares during the period. Plato Investment Management Ltd purchased a new stake in PG&E in the second quarter worth about $44,000. Finally, Massmutual Trust Co. FSB ADV increased its stake in shares of PG&E by 48.8% during the second quarter. Massmutual Trust Co. FSB ADV now owns 3,596 shares of the utilities provider’s stock valued at $63,000 after purchasing an additional 1,179 shares in the last quarter. 78.56% of the stock is currently owned by hedge funds and other institutional investors.

PG&E Trading Down 5.0 %

PG&E stock opened at $20.56 on Tuesday. The business has a 50-day simple moving average of $20.45 and a two-hundred day simple moving average of $19.16. PG&E Co. has a 52-week low of $15.94 and a 52-week high of $21.72. The company has a quick ratio of 0.99, a current ratio of 1.04 and a debt-to-equity ratio of 2.02. The company has a market cap of $53.76 billion, a P/E ratio of 16.06, a P/E/G ratio of 1.66 and a beta of 1.01.

PG&E (NYSE:PCG) last announced its earnings results on Thursday, November 7th. The utilities provider reported $0.37 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.32 by $0.05. PG&E had a net margin of 11.11% and a return on equity of 12.51%. The company had revenue of $5.94 billion during the quarter, compared to analyst estimates of $6.58 billion. During the same period in the previous year, the business posted $0.24 earnings per share. The firm’s quarterly revenue was up .9% compared to the same quarter last year. Analysts predict that PG&E Co. will post 1.36 EPS for the current year.

PG&E Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, October 15th. Investors of record on Monday, September 30th were issued a $0.01 dividend. The ex-dividend date was Monday, September 30th. This represents a $0.04 dividend on an annualized basis and a yield of 0.19%. PG&E’s dividend payout ratio is currently 3.13%.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. Bank of America assumed coverage on PG&E in a research note on Thursday, September 12th. They issued a “buy” rating and a $24.00 price target on the stock. Morgan Stanley raised their price target on PG&E from $19.00 to $20.00 and gave the company an “equal weight” rating in a report on Wednesday, September 25th. Mizuho upped their price target on shares of PG&E from $24.00 to $26.00 and gave the stock an “outperform” rating in a research note on Wednesday, November 27th. UBS Group raised their price objective on shares of PG&E from $24.00 to $26.00 and gave the company a “buy” rating in a research note on Tuesday, September 3rd. Finally, Barclays upped their target price on shares of PG&E from $24.00 to $25.00 and gave the stock an “overweight” rating in a research note on Monday, October 21st. Two analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $23.10.

Insider Buying and Selling at PG&E

In other PG&E news, CEO Patricia K. Poppe sold 55,555 shares of PG&E stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $20.66, for a total transaction of $1,147,766.30. Following the transaction, the chief executive officer now owns 1,460,222 shares of the company’s stock, valued at $30,168,186.52. The trade was a 3.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 0.15% of the stock is currently owned by corporate insiders.

PG&E Company Profile

PG&E Corporation, through its subsidiary, Pacific Gas and Electric Company, engages in the sale and delivery of electricity and natural gas to customers in northern and central California, the United States. It generates electricity using nuclear, hydroelectric, fossil fuel-fired, fuel cell, and photovoltaic sources.